Hong Kong Stocks plunge 237 pct

By IBT Staff Reporter On 09/26/06 AT 11:45 PM

Hang Seng Index closed at 17.308 pct yestoday, down 237 pcts or 1.3％，a HK$34.74 billion turnover achieved, dragged by the news of allotment of shares by China Life Insurance and China Mobile, and the recorded index futures trade.

While, the move of Shanghai top officials and the rumor related allotment brought China enterprises index down 133 pcts to 6,996. but the two companies both denied the rumor.

Analysts in sector said the move is still nomal and predicted the prospect to decline before balance.

Hong Kong Stocks Exchange and Clearing (HKex) publicized the index futures, all futures and futures options, which recorded a new high. Sources in market said the soaring index futures dragged the Hang Seng Index as they made a competition.

Furthermore, warrants trading are very active and the total turnover broke the level of 10 billion yuan.